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Law for closing costs on cash-out refi

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Icon Mini Profile cheridunlap





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Post Posted: Thu Nov 12, 2009 1:38 pm    Post subject: Law for closing costs on cash-out refi
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I have been told there is a law in Texas that we cannot be charged more than $3,000 in closing costs. Is this true?
Icon Mini Profile savior70





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Post Posted: Fri Nov 13, 2009 3:21 am    Post subject:
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Hi,

As far as I'm aware of, in Texas, the closing costs on equity loans are capped at 3% of the principal amount borrowed. However, this does not include the points paid upfront to reduce the interest rate on the mortgage.
Icon Mini Profile eric1
eric1
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Post Posted: Fri Nov 13, 2009 9:39 am    Post subject:
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Oh yeah, but you can bring a gun to the closing table in Texas
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